provide you one. That potential october surprise. Iran making moves to hold one-on-one talks. Abc's david kerley is at the white house with details. Sharyn, this case could be a case of an overstatement of the situation. It comes an interesting time. Just hours before the last presidential debate which will cover foreign affairs. The "new york times" with a headline, there's an agreement in principal with the u.S. And iran with one-on-one talks over their nuclear programs. After the election according to the "new york times." It was quick to be bedenied. Oturces are saying that iranians may be ready to talk. It comes four months after that last round of talk involving a larger group. The u.S. Said that it's willing to meet one-on-one with iranians to get them to promise not to build a nuclear weapon. Sharyn? What would likely have to have first? Well, this is all about sanctions and enriching uranium. They beliehat the sanctions are punishing iran. The president will not loosen sanctions unless iran stops enriching uranium and they can prove it. The timing is curious. Why the white house is so quick in its denial last night that this report by the "new york times" was completely correct, there are other newspapers quoting dipc sources. You'll hear a lot about this in the debate tomorrow night. It will be interesting if the president confirms some of this, how information he gives of where we stand. It will be a fascinating debate tomorrow. A good october surprise. Thanks so much, david kerley. This news comes 16 days before election and one day before the final debate. You're looking at a live shot now of the debate sight in boca raton, florida. They'll once again step into the arena, it's your voice, your vote. Let's bring in the host of abc's th "this week" and "good morning america." George stephanopoulos. It's hard to make what to make of it. Administration officials saying that iran has agreed. The white house is saying no. What you're looking at is the idea that iran believes that it's in their interest to get this out. If the initial report is true. The most important thing, the most important factor is how will this play in the debate? As david pointed out, it will be interesting to see if president obama confirms any of the details. More importantly, how will mitt romney respond? He has to be open. On the other hand, israel through their ambassador already signaled they're not open to direct talks. Romney has tried to align him closely with the government in israel. We have tons of millions of people watching the debates. Do we expect this third one to be potentially as impactful given that it's number three and it's focused on foreign policy? Hard to imagine that it will as much I as that first debate that changed the dynamics. Foreign policy, voters tend not to care about as much in their voting. On the other hand, this race is so close right now that everything matters right now. And finally, this is the last chance that both men have to speak to this many voters. Watching tomorrow night. Lot of people will tune in because, it's become reality tv. These two men are really at each other's throats. Coming off of the ferocity of last tuesday's debate, they'll be sitting at a table and talking about foreign policy. Romney has given a more moderate tone. I wouldn't be surprise if he looks where he agrees with president obama on foreign policy. Who has a bigger -- who needs to have a bigger night? That's a very, vy tough question. Mitt romney still seems to have some momentum, still coming out of that first debate, on the other hand, president obama has the advantage in key battle ground states. I think both men are under pressure to avoid one thing over all -- no huge mistake. They both go to their turnout machine the final two weeks. George has a big show this morning, chicago mayor rahm emanuel and florida senator marco rubio, also reminder, join george and diane sawyer for full coverage of the final presidential debate tomorrow night at 9:00 eastern.

This transcript has been automatically generated and may not be 100% accurate.

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